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PFC Infrastructure Bonds Sept 2011:


About Power Finance Corporation:

Power finance corporation (PFC), is a Govt Of India undertaking institute engaged in project finance of power and energy sector.PFC is actively engaged in finance of power plants,Hydroelectric and wind energy plants and various projects envolving generation,distribution and transmission as well as for renovation & modernization of existing power plants,along with consulting assignments of power sector.

This is second issue in this year after IFCI.

PFC 80-ccf Infrastructure Bonds Issue:

A public issue by power finance corporation limited of ‘long term infrastructure bonds’ of face value of Rs. 5,000 each, in the nature of secured, redeemable, non-convertible debentures, having benefits under section 80ccf of the income tax act, 1961,aggregating Rs.  200 crores with an option to retain an oversubscription upto the shelf limit (i.e.  6,900 crores).

Issue Details:

Series 1 2 3 4
Face Value Rs. 5000 5000 5000 5000
Interest Payment Frequency Annual Cumulative Annual Cumulative
Buyback Facility Yes Yes Yes Yes
Interest Rate 8.50% 8.50% 8.75% 8.75%

 Other Details:

Issue start date: 29th sept.

Issue close date: 04 th Nov. 2011.

Tax benefit: Max upto Rs. 20,000/- U/S. 80-CCF.

Credit Rating:

Rating Rating Agency
AAA / Stable CRISIL
AAA-Stable ICRA

The ratings indicate highest safety and stable outlook.

Maturity:

Bonds with maturity of 10yrs will be issue in series 1 and 2, with buyback option available after 5 yrs.while for series (3)& (4) maturity period is of 15 yrs and buyback is possible after completion of 7 yrs.

Bonds can be applied in demat as well physical mode.The bonds will be listed at BSE and can be traded only after completion of 5 yrs.

Documents required:

1.Demat mode: Cheque and self attested copy of pan card.Bank account ,nominee details will be picked from registry of  demat account.Interest,refund or maturity amount will be credited in bank account linked with your demat account.

2.Physical mode: Cheque,Self attested copy of pan card , address proof and cancelled copy of cheque.

If you wish to receive forms through speed post / courier , send me your address to my email id: ppdeshpande123@gmail.com.Please send complete postal address with pincode,phone number, name of issue and number of forms..

You can submit form in your city or send back to us with requistic documents and at par cheque(This is very important,cheque should be at par/CBS clearing which is indicated on cheque leaflet..).Scanned receipt will be send back to investor through email.

 

 // Updates as on 18/10/2011:

As more than sufficient requestes have reached for forms through courier/ speed post,this facility have closed for now.


Category: Fixed Income

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